Market Overview: The EUR/USD pair is showing an upward impulse followed by a downward correction. With a higher probability of continued upward movement, the focus will be on identifying high-quality trade setups to capitalize on this idea. ? Key Zones for Long Positions: IDM (Initial Drive Momentum): A critical support zone where price may bounce or consolidate. If the price breaks IDM with a full-bodied candle, the path to IDM OB (Order Block) opens up. IDM OB (Order Block): A strong demand zone that could act as a target for long trades. Manipulation within Order Flow (OF): Watch for price action around the ascending order flow zone. If liquidity builds before IDM and gets swept, long positions can be considered at these levels. ? Alternative Scenario (Bearish Bias): If the price drops deeper, it may target the ascending order flow zone located below PDL (Point of Demand Level). This scenario suggests a potential retest of lower support zones before any upward continuation. ? Trading Plan: Primary Focus: Monitor the interaction with IDM liquidity. Breakout above IDM: Look for long opportunities targeting IDM OB. Liquidity Build-Up: If price consolidates and sweeps liquidity before IDM, consider long entries at these levels. Secondary Focus: If the price falls deeper into the ascending order flow, wait for confirmation of a reversal or consolidation before entering long trades. ⚠️ Risk Management: Stop-loss should be placed just below the nearest key level to minimize risk. Position size should ensure risk does not exceed 1% of the trading capital . ? Note: The market is dynamic, and the current structure may evolve. I will adapt to what the chart shows and focus on high-probability setups. ? Wishing everyone a profitable trading day!
Today's Gold trading zones: Identify potential opportunities and plan your strategy.
OANDA:XAUUSD continued to rise in the short term, with gold prices just hitting a new all-time high of $3,014/oz. As investors focused on US economic data, which raised concerns about an economic slowdown, and escalating tensions in the Middle East, the precious metal's appeal as a safe haven was highlighted. Israel Strikes Hamas Targets Across Gaza, Killing Over 200 Israel said it carried out military airstrikes on Hamas targets in the Gaza Strip, a move that risks derailing a fragile ceasefire. Palestinians reported multiple airstrikes by Israel on various areas of the Gaza Strip. Traders were also looking at U.S. retail sales data, which showed a smaller-than-expected increase in February. Falling yields on 10-year U.S. Treasury notes also helped boost non-interest-bearing gold. Israel has launched a series of airstrikes on the Gaza Strip as a nearly two-month-old ceasefire appeared to be rapidly unraveling, with Prime Minister Benjamin Netanyahu saying his government would “increase its military force” against Hamas. Palestinians reported Israeli airstrikes in several areas of Gaza on Tuesday morning, and an Israeli statement confirmed the attacks took place across Gaza. Hamas’ media office said on Tuesday that Israeli airstrikes on the Gaza Strip had killed more than 200 people. The attack shattered a fragile ceasefire that had been suspended for 15 months in the war ravaging the Gaza Strip. It was the heaviest bombing since a ceasefire brokered by Egypt, Qatar and other countries took effect in January. https://www.tradingview.com/chart/XAUUSD/tbcbOdSh-GOLD-MARKET-ANALYSIS-AND-COMMENTARY-March-17-March-21/ Technical Outlook Analysis OANDA:XAUUSD After reaching and breaking the original price level which is also the bullish price target of 3,000 USD, gold is continuing to aim for the target level behind that, pay attention to readers last week at 3,021 USD in the short term, which is the location of the 0.50% Fibonacci extension level. Meanwhile, the Relative Strength Index (RSI) is sloping up with a significant slope and has not completely moved above the overbought area, showing that momentum and room for growth is still ahead. Next, the main trend and outlook remains bullish with price channels and mid- to short-term trend. The main support is seen by the EMA21. As long as gold remains above the EMA21, it remains technically bullish, the current dips should only be considered as a short-term correction or a buying opportunity. The following areas of interest will also be noted. Support: $3,000 – $2,977 Resistance: $3,021 – $3,065 SELL XAUUSD PRICE 3036 - 3034⚡️ ↠↠ Stoploss 3040 →Take Profit 1 3028 ↨ →Take Profit 2 3022 BUY XAUUSD PRICE 2949 - 2951⚡️ ↠↠ Stoploss 2945 →Take Profit 1 2957 ↨ →Take Profit 2 2963
Gold (XAU/USD) Analysis – Current Market Outlook Based on the latest charts, XAU/USD has made a minor pullback after breaking above the 3005 level, but the overall structure remains bullish. Key Observations: 1. H1 and H4: The price continues to form higher highs and higher lows. EMA 5 and EMA 21 support the uptrend. RSI remains above 60, confirming bullish momentum. 2. M30 and M15: The pullback on these timeframes appears to be a simple retest of a recently formed support level. If the price holds the 3010-3008 zone, it could be a good area for a new long entry. 3. M5: The price tested the 3015 level and is now trying to hold the 3010-3011 area. If this zone fails, the next major support is around 3005. Trading Plan: ✅ For a Long Position: Wait for consolidation or a clear rejection at 3010-3008. Entry confirmation: a higher low forming on M5/M15. TP1: 3020 TP2: 3030 SL: Below 3005 ❌ For a Short Position: Only consider a short if there is a clear rejection from 3015-3020 and a lower high formation on M15/M30. Entry confirmation: a bearish close on H1. TP1: 3005 TP2: 2994 SL: Above 3025 Currently, the bullish trend seems more likely to continue, but we need to observe how the price reacts at the mentioned support zones.
As we can clearly see, that there is a lack of momentum. Exiting this trade will be a good option. We will be taking another entry. Xauusd is still at Breakeven. So exiting this trade will be a good choice.
NIFTY 23,000 as Key Resistance; Breakout Above 23,100 Signals Bullish Momentum The NIFTY 50 index is currently facing resistance at the 23,000 level. A decisive close above 23,100, accompanied by strong trading volume, would confirm a breakout and signal further upside potential. This move would reinforce bullish sentiment and could lead to continued upward momentum. Traders should closely monitor volume confirmation to validate the breakout. If sustained, the next potential resistance levels could be 23,500–23,800, while failure to hold above 23,100 may trigger a pullback toward 22,800–22,900. Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI registered. please consult your financial advisor before taking any trade.
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